First
get a suitably gorgeous miniature, the feral lady from Heresy is just
the model, as an extra bonus, it comes with the hands detached and small
hole at the stumps so less work. Drill holes then super glue a eye hole
wire into the hand. The round headed plier is real good for this. This
will help grip the pom pom in place, what could be more embarrassing than
dropping your pom pom mid game?

Grab
a blob and cover the wire and let the putty dry. Then sculpt streamers
around the blob. I'm going to do the streamers in 3 layers so this is
the first. Start by rolling the putty into a strip then wrap around the
blob, make it smooth then use a sharp point and pull lines into the blob.
I did both sides because I was impatient, ended up mashing part of the
first one so it was a bad idea.

The
second layer is done much the same way as the first. I tried to give it
a bit of sway to have the gravity effect on it, ended up a bit on the
messy side though.

First
pom pom done! Add the final layer. The only tricky bit here is you need
to tidy up the top because you don't have the next layer to cover it up
like the previous two. Try to make the overall shape circular, though
I didn't do a good job in that area.